The International Monetary Fund (IMF) has approved a 500 million dollar disbursement to Pakistan.

As per the details, IMF Deputy Managing Director Antoinette Sayeh mentioned in a statement that  the latest payment brought total disbursements under the Extended Fund Facility to 2 billion dollars since the program was first approved in July 2019.

She stated that Pakistani authorities have continued to make satisfactory progress under the program.

After reviewing #Pakistan’s reform program supported by the IMF Extended Fund Facility, the Fund’s Executive Board approved the immediate disbursement of about US$500 million for budget support. https://www.bolnews.com/pakistan/2021/03/imf-approves-500-million-disbursement-to-pakistan/amp/

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— IMF (@IMFNews) March 24, 2021

#Pakistan’s economic reform program has been critical in addressing the COVID-19 crisis and supporting the economy, thus saving lives and livelihoods. https://www.bolnews.com/pakistan/2021/03/imf-approves-500-million-disbursement-to-pakistan/amp/

— IMF (@IMFNews) March 24, 2021

Pakistan Reaches Staff-Level Agreement With IMF

Earlier in February, an agreement was reached between the International Monetary Fund (IMF) and Pakistan which has paved the way for the release of a $500 million instalment to Pakistan.

Pakistan had assured of a structural reform program after which Pakistan’s debt program has been restored.